BRUSSELS (Reuters) - The European Union has set provisional tariffs on aluminium flat-rolled products from China after an initial investigation found they were being sold into the bloc at artificially low prices.
The European Commission has set duties of between 19.3% and 46.7%, the EU’s official journal said on Monday. The Commission oversees trade policy in the 27-nation European Union.
The lowest rate will apply to companies of the Nanshan Group, such as Shandong Nanshan Aluminium Co, while Jiangsu Alcha Aluminium Group Co will face duties of 28.3%.
The anti-dumping duties, to come into force on Tuesday, will apply while the investigation continues. It is due to conclude in October, when tariffs may be set for five years.
The investigation to date showed Chinese exporters increased their share of the EU market from 6.2% in 2017 to 11.2% in the investigation period from mid-2019 to mid-2020, while prices declined by 9%.
Over the same timeframe, EU producers turned from being profitable into making losses, the Commission’s investigation found.
The investigation was launched after a complaint from trade association European Aluminium, whose members include Norsk Hydro and Elvalhalcor.
Reporting by Philip Blenkinsop; editing by Jason Neely
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